2026-01-08 11:25:00

The Vietnamese government recently announced new measures for cryptocurrency regulation. According to the plan, authorities will approve no more than five digital asset trading platforms to operate within the regulatory sandbox framework, with the first pilot expected to officially launch in mid-January 2026.

Getting operational approval is not so easy. Regulatory authorities have set several thresholds — the hard criteria for approved exchanges include a registered capital of no less than 10 trillion VND, and at least 65% of the equity must be held by institutional investors. These two requirements aim to ensure the platform's financial strength and operational stability.

From a policy perspective, Vietnam's authorities have made their intentions very clear. On one hand, they want to guide active but scattered crypto trading back to the domestic market; on the other hand, they aim to keep these trading activities under control through unified regulation. The Ministry of Finance, the State Bank of Vietnam, and the Ministry of Public Security will work together to supervise and manage these pilot exchanges, forming a multi-departmental regulatory framework.

This marks a shift in Vietnam's policy stance in the field of crypto assets from observation to proactive guidance, balancing innovation and risk prevention through a orderly market access system.

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BoredRiceBall

· 01-11 11:23

100 trillion VND... How high is this threshold? Small exchanges are directly out of business. --- Vietnam seems to want to push retail investors back, to unify and take a cut? --- Institutional investors hold 65% control, in other words, they don't want private players to get too excited. --- Launching only in January 2026, we have to wait two more years. Entering now is basically betting on the national fortune. --- Five exchanges, the competition will be fierce... It seems only two or three will survive in the end. --- This regulatory framework isn't actually strict; compared to other Southeast Asian countries, the attitude is much better. --- With such a high registered capital, there are probably only a few local platforms in Vietnam that can gather that. --- Joint regulation by multiple departments... Here we go again, in the end, it's just for show. --- Balancing innovation and risk control? Just listen, but when it comes to actual implementation, we'll see.

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CommunityLurker

· 01-08 11:39

100 trillion shield? This threshold is really incredible, it's going to block people again Can only approve five companies, feels like just consolidating Vietnam is really trying to bring all retail investors' coins back, haha Launching in 2026, waiting so long, will anyone still be here? 65% institutional equity, it seems big platforms simply can't get in

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ChainSauceMaster

· 01-08 11:27

10 trillion shields? That's a pretty tough threshold; retail investors are directly out. Vietnam wants to go big, but with only five spots, it's hard to even compete. 2026, huh? That'll have to wait another two years. I just want to ask, will big capital inflows lead to even harsher profit-taking? Regulatory sandbox sounds good, but I'm worried it will ultimately be just another power rent-seeking scheme.

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